Restricted Trading Period. The period during which (a)(i) the S&P rating of any of the Class A Debt is one or more sub-categories below its rating on the Closing Date or (ii) the S&P rating of the Class B Notes is two or more sub-categories below its rating on the Closing Date and (b) after giving effect to any sale (and any related reinvestment) or purchase of the relevant Collateral Obligation, (i) the aggregate principal balance of all Collateral Obligations plus, without duplication, amounts on deposit in the Principal Collection Subaccount (including to the extent such amounts have been designated for application as Principal Proceeds in connection with a Contribution to the Issuer) and the Ramp-Up Account will be less than the Reinvestment Target Par Balance or (ii)(A) any of the Coverage Tests are not satisfied or (B) solely with respect to any purchase or reinvestment of sale proceeds, the Collateral Quality Test is not satisfied, or if any test thereof is not satisfied, the level of compliance with such test is not maintained or improved unless with respect to any proposed sale of a Collateral Obligation, after giving effect to such sale and application of proceeds on the next succeeding Payment Date such Coverage Tests will be satisfied; provided, that such period will not be a Restricted Trading Period (so long as the S&P rating of the Class A Debt or the Class B Notes have not been further downgraded, withdrawn or put on watch for potential downgrade) upon the direction of the Issuer with the consent of a Majority of the Class A Debt.
Restricted Trading Period. The period during which (a)(i) the S&P rating of the Class A Notes is one or more sub-categories below its rating on the Closing Date or the S&P rating is withdrawn, (ii) the S&P rating of any of the Class B-1 or the Class B-2 Notes is two or more sub-categories below its rating on the Closing Date or the S&P rating is withdrawn, or (iii) the S&P rating of any of the Class C Notes is three or more sub-categories below its rating on the Closing Date or the S&P rating is withdrawn and (b) after giving effect to any sale (and any related reinvestment) or purchase of the relevant Collateral Obligation, (i) the aggregate principal balance of all Collateral Obligations plus, without duplication, amounts on deposit in the Principal Collection Subaccount (including to the extent such amounts have been designated for application as Principal Proceeds in connection with a contribution to the Issuer) and the Ramp-Up Account will be less than the Reinvestment Target Par Balance or (ii)(A) any of the Class C Coverage Tests are not satisfied or (B) solely with respect to any purchase or reinvestment of sale proceeds, the Collateral Quality Test is not satisfied, or if any test thereof is not satisfied, the level of compliance with such test is not maintained or improved unless with respect to any proposed sale of a Collateral Obligation, after giving effect to such sale and application of proceeds on the next succeeding Payment Date such Class C Coverage Tests will be satisfied; provided, that such period will not be a Restricted Trading Period (so long as the S&P rating of the Class A Notes, the Class B-1 Notes or the Class B-2 Notes has not been further downgraded, withdrawn or put on watch for potential downgrade) upon the direction of the Issuer with the consent of a Majority of the Class A Notes.
Restricted Trading Period a period of twelve (12) months from the date on which the Consideration Shares being allotted and issued to the Vendors or their nominees;
Examples of Restricted Trading Period in a sentence
No Employee including his/her Immediate Relatives shall either on his/ her own behalf or on behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/ she is in possession of any Unpublished Price Sensitive Information and (ii) during the Restricted Trading Period.
No Restricted Trading Period shall restrict any sale of a Collateral Obligation entered into by the Issuer at the time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.
For the avoidance of doubt, no Restricted Trading Period shall restrict any sale of a Collateral Obligation entered into by the Issuer at a time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.
For the avoidance of doubt, no Restricted Trading Period will restrict any sale of a Collateral Obligation entered into by the Issuer at a time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.
No Employee of the company including his/her Immediate Relatives shall either on his/ her own behalf or on behalf of any other person, trade or undertake to trade or cause to trade in the Securities of the Company (i) when he/ she is in possession of any Unpublished Price Sensitive Information and (ii) during the Restricted Trading Period.
More Definitions of Restricted Trading Period
Restricted Trading Period. Each day during which, both: (i) (a) S&P’s rating of the Class A-1 Notes or Fitch’s rating of the Class A-1 Notes is one or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) or (b) S&P’s rating of the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C Notes or the Class D Notes is two or more subcategories below its initial rating thereof or has been withdrawn (unless it has been reinstated) and (ii) after giving effect to the applicable sale and reinvestment in Collateral Obligations, the sum of the aggregate principal balance of all Collateral Obligations (excluding the Collateral Obligations being sold) and all Eligible Investments constituting Principal Proceeds (including, without duplication, the net proceeds of any such sale) is less than the Reinvestment Target Par Balance; provided however that a Majority of the Controlling Class may elect to waive the Restricted Trading Period, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) further downgrade or withdrawal of the rating of the Class A-1 Notes, the Class A-2 Notes, the Class B-1 Notes, the Class B-2 Notes, the Class C Notes or the Class D Notes.
Restricted Trading Period means the period during which, if the relevant Class of Notes remains Outstanding (i) the rating by any Rating Agency of any Class of Senior Notes is one or more subcategories below its initial rating; (ii) the rating by any Rating Agency of any other Class of Secured Notes is two or more subcategories below its initial rating; or (iii) the rating by any Rating Agency of any Class of Secured Notes has been withdrawn (unless it has been reinstated), other than in the case of a withdrawal due to a repayment in full of the applicable Class of Secured Notes; provided that a Majority of the Controlling Class may elect to waive such condition, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) a further downgrade or withdrawal of the rating by any Rating Agency of any Class of Secured Notes; provided, further, that such period shall not be a Restricted Trading Period if (A) the Effective Date Overcollateralization Test is satisfied, (B) each of the Collateral Quality Tests is satisfied and (C) the Aggregate Principal Balance of all Underlying Assets plus, without duplication, amounts on deposit in the Collection Account and the Unused Proceeds Account (including Eligible Investments therein) representing Principal Proceeds plus amounts (including Eligible Investments therein) on deposit in the Variable Funding Account will be no less than the Reinvestment Target Par Balance.
Restricted Trading Period. The period during which (a) the S&P rating of any of the Class A-1 Notes is one or more subcategories below its rating on the Closing Date, (b) the S&P rating of any other Class of Secured Notes is two or more subcategories below its rating on the Closing Date or (c) the S&P rating of the Class A-1 Notes then Outstanding has been withdrawn and not reinstated; provided that such period shall not be a Restricted Trading Period (i) if (A) the Aggregate Principal Balance of the Collateral Obligations plus Eligible Investments constituting Principal Proceeds is greater than or equal to the Reinvestment Target Par Balance and (B) each Overcollateralization Ratio Test and Interest Coverage Test has been satisfied or (ii) so long as the S&P rating of the highest rated Class of Notes then Outstanding has not been further downgraded, withdrawn or put on watch for potential downgrade, upon the direction of the Co-Issuers with the consent of a Majority of the Controlling Class.
Restricted Trading Period means each day during which the DBRS Rating of the Class A-R Loans or the Class A-T Loans is one or more sub-categories below the Initial Rating by DBRS or the DBRS Rating of the Class A-R Loans or the Class A-T Loans has been withdrawn and not reinstated; provided that such period will not be a Restricted Trading Period upon the direction of the Majority Lenders (provided that (i) the Borrower shall provide notice to DBRS of such direction and (ii) such direction shall not apply to any subsequent occurrence of any of the Loans being downgraded, withdrawn or put on watch); provided further that no Restricted Trading Period shall restrict any purchase or sale of a Collateral Loan entered into by the Borrower at a time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.
Restricted Trading Period. The period during which (a) the Xxxxx’x rating of any of the Class A Notes is one or more subcategories below its rating on the Closing Date, (b) the Xxxxx’x rating of any of the Class B Notes, the Class C Notes, the Class D Notes or the Class E Notes is two or more subcategories below its rating on the Closing Date, or (c) the Xxxxx’x rating of any Class of Notes (in each case then outstanding) has been withdrawn and not reinstated; provided, that such period will not be a Restricted Trading Period (i) if the aggregate principal balance of the Collateral Obligations plus Eligible Investments constituting Principal Proceeds is greater than or equal to the Reinvestment Target Par Balance, or (ii) so long as the Xxxxx’x rating of any Class of Notes has not been further downgraded, withdrawn or put on watch for potential downgrade, upon the direction of the Issuer with the consent of a Majority of the Controlling Class.
Restricted Trading Period. The period during which (a) the Xxxxx’x rating of the Class A Notes is one or more sub-categories below its rating on the Closing Date or (b) the Xxxxx’x rating of the Class A Notes (then outstanding) has been withdrawn and not reinstated; provided, that such period will not be a Restricted Trading Period (so long as the Xxxxx’x rating of the Class A Notes has not been further downgraded, withdrawn or put on watch for potential downgrade) upon the direction of the Issuer with the consent of a Majority of the Controlling Class.
Restricted Trading Period means the period during which, if the relevant Class of Notes remains Outstanding the rating by Moody's of the Class A Notes is one or more subcategories below its Initial Rating (and not on watch for possible upgrade), other than in the case of a withdrawal due to a repayment in full of the applicable Class of Secured Notes; provided that a Majority of the Controlling Class may elect to waive such condition, which waiver will remain in effect until the earlier of (A) revocation of such waiver by a Majority of the Controlling Class and (B) a further downgrade or withdrawal of the rating by any Rating Agency of any Class of Secured Notes; provided, further, that such period shall not be a Restricted Trading Period if after giving effect to any sale of relevant Collateral Obligations, the Aggregate Principal Balance of all Collateral Obligations plus, without duplication, amounts on deposit in the Collection Account, Supplemental Reserve Account and the Ramp-Up Account (including Eligible Investments therein) representing Principal Proceeds will be greater than the Adjusted Target Par Balance; provided, further, that no Restricted Trading Period shall restrict any sale of a Collateral Obligation entered into by the Issuer at a time when a Restricted Trading Period is not in effect, regardless of whether such sale has settled.